HHI / Bluffton May Market Indicator

Monthly Indicators May 2020 While the effects of COVID-19 in the broader economy continue, real estate activity is beginning to recover across much of the country. According to Freddie Mac, mortgage rates have been below 3.3 percent for more than four weeks and are hovering near all-time lows, spurring strong interest by buyers and lifting showing activity up 4% nationally versus a year ago in the final week of May. New Listings were down 25.2 percent to 519. Pending Sales increased 11.3 percent to 629. Inventory shrank 15.9 percent to 2,055 units. Prices moved higher as Median Sales Price was up 0.1 percent to $320,340. Days on Market decreased 2.9 percent to 133 days. Months Supply of Inventory was down 16.4 percent to 4.6 months, indicating that demand increased relative to supply. Buyers have been quicker to return to the housing market in force than sellers, who have been showing a bit more reluctance to list their homes than is typical for this time of year. But trends are improving and as states and localities continue to moderate their COVID-19 policies, real estate activity is expected to continue to improve in the coming weeks. Quick Facts - 42.9% + 0.1 One-Year Change in Closed Sales One-Year Cha Median Sales A research tool provided by the Hilton Hea Percent changes are calculated using roun Market Overview New Listings Pending Sales Closed Sales Days on Market Until Sale Median Sales Price Average Sales Price Percent of List Price Received Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory Current as of June 10, 2020. Data is Copyright Ā© 2020 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORSĀ® and South Ca